|Traded as||JSE: ANG
(by merger with Henderson Group)
|Headquarters||Johannesburg, South Africa|
(Chairman of the Board)
|Revenue||US$ 5.334 billion (2010)|
|US$ 0.518 billion (2010)|
|US$ 0.076 billion (2010)|
|Total assets||US$ 9.532 billion (2010)|
|Total equity||US$ 3.989 billion (2010)|
Number of employees
|62,046 – June 2011|
AngloGold Ashanti Limited is now a global gold producer with 21 operations on four continents. The company is listed on the New York, Johannesburg, Accra, London and Australian stock exchanges, as well as the Paris and Brussels bourses.
In 2008, AngloGold produced 4.98 million ounces of gold from its operations, estimated to be seven percent of the global production. In 2009, the company's gold output dropped to 4.6 million ounces. As of the third quarter of 2014, Anglogold was the world's third-largest producer of gold, behind Barrick Gold and Newmont Mining.
The company was formed on 26 April 2004, after the High Court of Ghana approved the merger of AngloGold and the Ashanti Goldfields Corporation three days earlier. This came almost a year after the merger was announced on 16 May 2003. In the transaction, Ashanti shareholders received 0.29 ordinary shares of AngloGold for every Ashanti share.
Russell Edey, chairman of AngloGold since 2002 and, after the merger also of AngloGold Ashanti, was replaced by Tito Mboweni in May 2010. The company's Tau Lekoa Gold Mine in South Africa was sold to Buffelsfontein Gold Mines Limited in February 2009, with ownership being transferred on 1 August 2010.
The company announced the elimination of the last of its hedge book in October 2010. The company had hedged 11.3 million ounces of gold, as of early 2008, under previous CEO Bobby Godsell. Under its new CEO, this was gradually reduced to 3.22 million. In October 2010, this remaining amount was paid off with US$2.63 billion, or US$1,300 per ounce of gold.
AngloGold Ashanti is a signatory participant of the Voluntary Principles on Security and Human Rights.
In August 2008 British charity War on Want published a report accusing AngloGold Ashanti's parent company Anglo American of profiting from the abuse of people in the developing countries in which the company operates. The report alleges abuses committed by AngloGold Ashanti subsidiaries in Colombia, Ghana and Mali. War on Want stated that AngloGold Ashanti was accused in 2008 in Colombia of "murders of trade union and community leaders who opposed the company's activities in the region". The company disclosed itself in 2006 or in 2008 for unacceptable safety performance in its platinum mines. Safety measures were taken. Additionally, in 2005 the staff of the AGA exploration team in Ituri made an US$8,000 payment to the FNI, which had been accused of committing various humans rights abuses.
In January 2011, AngloGold Ashanti was named the world's "Most Irresponsible Company" at the Public Eye Awards hosted with Greenpeace in Davos, Switzerland by the Erklärung von Bern, known in English as the Berne Convention. The nominating organisation, WACAM (Wassa Association of Communities Affected by Mining), said the company had a history of "gross human rights violations and environmental problems."
|Revenue (US$ million)||3,113||3,743||3,961|
|Gold income (US$ million)||2,393||2,646||3,002||3,619||3,768||5,334||6,570||6,353|
|Gross loss/profit (US$ million)||109||277||−248||594||−578||1,082||2,623||2,256|
|Dividends per share (US$ cents)||56||36||62||19||11||17||20||49||36|
|Total cash cost (US$/ounce)||264||281||308||357||444||514||638||728||862|
|Total production cost (US$/ounce)||332||374||414||476||567||646||816||950||1,078|
Gold production figures for the company's mines since 2004 in ounces per annum were
|Cerro Vanguardia (92.5%)||Argentina||211,000||211,000||215,000||204,000||154,000||192,000|
|Cripple Creek & Victor||United States||329,030||329,625||283,486||282,000||258,000||218,000|
|Great Noligwa||South Africa||795,000||693,000||615,000||483,000||330,000||158,000|
|Moab Khotsong 2||South Africa||---||---||44,000||67,000||192,000||247,000|
|Serra Grande (50%)||Brazil||94,000||96,000||97,000||91,000||87,000||77,000|
|Tau Lekoa 4||South Africa||293,000||265,000||176,000||165,000||143,000||124,000|
|Surface Operations||South Africa||119,000||95,000||113,000||125,000||92,000||164,000|
- Figures for 2004 for Freda-Rebecca, Siguiri, Bibiani, Iduapriem and Obuasi are for the period from May to December, from the merger onwards, having belonged to Ashanti Goldfields Corporation before the merger.
- Percentage figures behind names indicate the share of production of the mine belonging to AngloGold Ashanti. Production figures shown are those belonging to AngloGold Ashanti, not overall production.
- 1 The Bibiani Gold Mine was sold 1 December 2006.
- 2 The Moab Khotsong Gold Mine started production in 2006.
- 3 The Freda-Rebecca Gold Mine was sold 1 September 2004.
- 4 The Tau Lekoa Gold Mine was sold to Buffelsfontein Gold Mines Limited, with ownership being transferred on 1 August 2010.
Fatalities in the South African gold mining industry, especially the underground mines, are common. As of 2009, 100 to 120 were reported every year. This did represent an improvement since 2007: AngloGold Ashanti has reduced the number of fatalities in its operations by 70%. One of the main reasons for this development was a program led by CEO Mark Cutifani aimed at reducing the company's number of fatalities to zero by 2015. Of the 16 fatalities experienced by the company in 2009, 13 were in South Africa (2007: 27 of 34, 2008: 11 of 14). Statistics company fatalities since 2004 founding:
- AngloGold's response to Human Rights Watch allegations (pdf), 2005.
- D.R. Congo: Gold Fuels Massive Human Rights Atrocities – Human Rights Watch article
- Anglo American: The Alternative Report
- Annual Report 2009 AngloGold Ashanti website, accessed: 9 May 2010
- Simon Walker, "Gold: new fundamentals, Engineering & Mining Journal, Feb. 2015, v.216 n.2 p.34
- Completion of merger of Anglogold Limited/Ashanti Goldfields AngloGold Ashanti ASX announcement, published: 27 April 2004, accessed: 10 July 2010
- Annual Report 2005 AngloGold Ashanti website, accessed: 11 July 2010
- Our executive team AngloGold Ashanti website, accessed: 9 July 2010
- Newmont's $1.4bn stake in soon-to-start Boddington mine The Australian, published: 29 January 2009, accessed: 14 July 2010
- Chairman’s letter Archived 5 April 2010 at the Wayback Machine. AngloGold Ashanti website, accessed: 10 July 2010
- Tau Lekoa – finalisation of sale Archived 28 July 2010 at the Wayback Machine. AngloGold Ashanti website, published: 21 July 2010, accessed: 27 July 2010
- AngloGold Ashanti eliminates hedge book, gains full exposure to gold AGA website, published: 7 October 2010, accessed: 8 October 2010
- "Anglo American: The Alternative Report".
- [http://www.forbes.com/lists/2007/11/biz-07women_Cynthia-Carroll_4PVY.html Most powerful women, Forbes 2007 Cynthia Carroll, Chief executive of Anglo American U.K. Anglo American’s ownership 2008: 41.8% in AngloGold Ashanti, 45% in diamond company DeBeers, 49% in MMX Minas-Rio, a Brazilian iron ore concern
- "Doing business with integrity: the experience of AngloGold Ashanti in the Democratic Republic of Congo". International Social Science Journal. Volume 57.
- "please verify is AngloGold Is World's Most Evil Company".
- "Annual Financial Statements 2010" (PDF). AngloGold Ashanti. Retrieved 31 August 2013.
- Annual Report 2011 AngloGold Ashanti website, accessed: 30 dec '12
- "Annual Financial Statements 2012" (PDF). AngloGold Ashanti. Retrieved 31 August 2013.
- Annual Report 2006 AngloGold Ashanti website, accessed: 11 July 2010
- Five-year summaries Archived 12 September 2011 at the Wayback Machine. AngloGold website, accessed: 10 July 2010
- AngloGold wants zero mine deaths by 2015 The Sydney Morning Herald, published: 29 March 2010, accessed: 9 July 2010
- Annual Report 2007 AngloGold Ashanti website, accessed: 13 July 2010